SELLER BENEFITSBenefits of Auctioning
- * Seller knows when the property will sell and close.
- * Buyer signs a no contingency contract to close within 30 days.
- * Creates competition among buyers . . . auction price can exceed the price of a negotiated sale.
- * The aggressive marketing campaign increases interest and visibility. The email list currently is more than 4,400 email recipients long
- * Buyers come prepared to buy.
- * Assurance that the property will be sold at true market value.
- * Property is sold "As Is"; no seller warranties.
- * Fast selling time reduces long-term carrying costs, including interest, taxes, insurance and maintenance.
- * Seller is taken out of the negotiation process.
- * Eliminates numerous and unscheduled showings.
More than $115 billion of real and personal property is sold at auction annually in the U.S. Of this total, $32 billion is real estate.
Auctions are an acceptable alternative to traditional private treaty sales. "The NATIONAL ASSOCIATION OF REALTORS® believes real estate auctions are an innovative marketing tool which can benefit buyers and sellers in good times and bad..." (From the NAR Auction Committee's A Guide to Real Estate Auctions.)
You can use the auction process three ways:
1. Register a buyer
2. Sell one of your listings1. REGISTER A BUYER AT FederalReserveAuction.com
Earn up to a 3% commission at settlement by properly registering the successful high bidder at a FederalReserveAuction.com *
* Requirements for Cooperating Agents Producing Buyers Agent must be licensed in the state in which auction is conducted. An FederalReserveAuction.com buyer application form must be properly completed and received by FederalReserveAuction.com at least 24 hours prior to auction. The agent must show the property prior to Auction and attend the sale with the buyer and assist in closing procedures.2. SELL YOUR LISTING AT FederalReserveAuction.com
Earn up to a 3% commission at settlement by entering your listing in a FederalReserveAuction.com real estate event.
- * A listing about to expire
- * Property that seller wants to quickly convert to cash
- * Bridge loan and "subject to the sale of existing property" situations
- * High demand - broad market properties where competition between buyers will boost the selling price
- * Inactive listing that deserves a new marketing approach
- * Estate and surplus properties
- * Financially troubled properties
To put a listing in a FederalReserveAuction.com event:
Agent must be licensed in the state in which auction is conducted.
A FederalReserveAuction.com auction amendment must be added to listing agreement. Listing agent maintains sign and lock box on property, conducts open houses, shows property by appointment and attends auction to assist in closing procedures. Agent provides FederalReserveAuction.com with the necessary information to properly represent and promote the property to be auctioned.
Note: For REALTORS® who do not wish to be actively involved in the auction process, FederalReserveAuction.com offers a referral fee on a case-by-case basis for producing buyers or sellers. We will handle the entire transaction. Agent must originate initial contact between seller or buyer and FederalReserveAuction.com for each specific property auction.
Do you need more information on an upcoming auction? Need to liquidate real estate or an estate? Please contact us.